If the valve cover has a 3-4" plastic extension tube that the oil cap screws into, the deposits are a result of condensation from crankcase vapors. The cooler surfaces of the tube, as opposed to the hot engine block, promote this condensation.
Generally, it's colder temps that produce the accumulations, that are a result of fuel vapors in the crankcase from the richer mixtures generated during engine warmup.
I have this extension tube on my GM 5.3L V8, and generally clean out the cap & tube at every oil change, just as a preventative measure.